Dismal's Smacks

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📈 Macroeconomics

How did we get here? Reviewing the Fed's guidance and actions taken since SVB failed.

Good evening, resident jellyfish here! I have been seeing a few threads from folks trying to wrap their head around on how all of this has transpired with the banks over the past day or so: https://www.reddit.com/r/Superstonk/comments/11qrv9h/plz_elia_where_this_money_is_

FDIC Alert! FDIC Chairman Martin Gruenberg begins finger pointing at the Fed in speech 3/6/23: 'unrealized losses weaken a bank’s future ability to meet unexpected liquidity needs' 'especially when interest rates change to the extent they have'

Source: https://www.fdic.gov/news/speeches/2023/spmar0623.html 'Juicy' sections of his speech: Full speech: Introduction Good morning. I very much appreciate the invitation to speak to you today. I am especially glad to be here in person. Looking back to pre-pandemic days, there may have

Liabilities and Capital: Liabilities: Earnings Remittances Due to the U.S. Treasury (-39.774 billion as of 3/8/2023)--Let's talk about the Fed's cumulative losses.

Good afternoon, resident jellyfish here! I hope everyone is enjoying a great Thursday. I want to take a minute to discuss a graph I am sure is going to catch some folks attention pulled from today's H.4.1 release: https://fred.stlouisfed.org/series/RESPPLLOPNWW Remember, the

Consumer Credit Alert! In January, consumer credit increased at a seasonally adjusted annual rate of 3.7 percent. Revolving credit increased at an annual rate of 11.1 percent, while nonrevolving credit increased at an annual rate of 1.2 percent

Source: https://www.federalreserve.gov/releases/g19/current/g19.pdf In January, consumer credit increased at a seasonally adjusted annual rate of 3.7 percent. Revolving credit increased at an annual rate of 11.1 percent, while nonrevolving credit increased at an annual rate of 1.2 percent. https://www.

Federal Reserve Alert! Governor Philip N. Jefferson gives speech 'Recent Inflation and the Dual Mandate' where he explains the differences between CPI and PCE Price Index.

Source: https://www.federalreserve.gov/newsevents/speech/jefferson20230227a.htm Governor Philip N. Jefferson Thank you, Jason, for inviting me to join your economics class and for your kind introduction. It is a pleasure to be here. I miss teaching economics classes. Before I continue, I would like to note, as

Inflation Alert! Cox Automotive: Wholesale Used-Vehicle Prices Increase in January. 'In January, Manheim Market Report (MMR) values saw price increases that were not typical.'

Remember, falling used vehicle retail prices exerted big downward pressure on “core CPI”. This must make JPow nervous... Source: https://www.coxautoinc.com/market-insights/january-2023-muvvi/ Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 2.5% in January compared to December. I want to call out the